Synthesia Lease 245 Fifth Avenue Expands NYC Office
The Synthesia Lease 245 Fifth Avenue marks a major step in the AI platform’s New York expansion. By securing 13,600 square feet in Moinian’s NoMad office tower, Synthesia doubles its footprint and signals confidence in the city’s tech-driven future.
Synthesia, which provides an enterprise-focused video communications platform backed by “Shark Tank” investor Mark Cuban, has signed a five-year lease for 13,600 square feet at the Moinian Group’s 245 Fifth Avenue, according to the landlord.
The deal represents an expansion for the AI firm, which originally took 6,490 square feet on the 16th floor of the 26-story office building in April 2023 when it relocated from 111 East 14th Street, as Commercial Observer previously reported.
“245 Fifth Avenue’s unparalleled Midtown South location continues to attract a very dynamic and varied collection of businesses,” Omar Sozkesen, a vice president of commercial leasing at Moinian, said in a statement.
The asking rent in Synthesia’s deal was unclear, but asking rent in the building was $75 per square foot as recently as March.
Lee & Associates NYC’s Dennis Someck and Justin Myers brokered the deal for the tenant, while Newmark’s Scott Klau, Erik Harris, Zachary Weil, Cole Gendels and Benjamin Klau represented the landlord.
“This [deal] provided the opportunity to shift to a built space on a full floor with tremendous light,” Someck said in a statement to CO. “This was a seamless expansion for them.”